Drug firm Ind-Swift Laboratories today said it has raised Rs 424.5 crore through allotment of redeemable non-convertible debentures to two investors. The company has allotted 4,245 debentures to ECAP Equities Ltd and ECL Finance Ltd, Ind-swift Laboratories said in a BSE filing.
"...the Board of Directors in their meeting held today approved inter-alia among other items, the allotment of 4,245 10% secured rated listed redeemable non-convertible debentures of face value of Rs 10,00,000- each to the investors whose bids are accepted through EBP mechanism...," it added.
The tenure of allotment is 6 years, Ind-Swift Laboratories said.
The company, however, did not mention what it proposed to do with the amount being raised.
Shares of Ind-Swift Laboratories were today trading at Rs 82.80 per scrip in the afternoon trade on BSE, up 4.94 percent from its previous close.
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